Thursday, February 21, 2013

The Impact of Raising Middle Class Taxes

With all the Sturm und Drang over the budget crisis, the fiscal cliff and now sequestration, there's on indisputable fact: the payroll tax increase is having an affect on Wal-Mart.

Sales were soft at the retail behemoth in late January. This could cause ripples all along their supply chain, with lost sales and possible layoffs.

This finally proves that trickle-down economics don't work as well as trickle up economics. Cutting taxes on the rich doesn't stimulate the economy, they just get to keep more of their money. But when you raise our taxes, we spend less.

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